- Ripple claims its lawsuit with the SEC is settled, with both parties dropping appeals and Ripple agreeing to a reduced $50 million fine.
- However, the SEC insists the case is still under appeal, leaving the legal outcome uncertain.
In a surprising twist in the long-running legal saga between Ripple and the U.S. Securities and Exchange Commission (SEC), the two sides appear to be offering contradictory narratives about the case’s status. While Ripple executives claim the dust has settled, the SEC insists the courtroom drama is far from over.
Ripple CEO Brad Garlinghouse recently declared that the case is effectively over, with the SEC dropping its appeal and Ripple withdrawing its own cross-appeal. Supporting this statement, Ripple’s Chief Legal Officer noted that the company will pay a $50 million penalty—less than half of the originally proposed $125 million. The crypto world took this as a sign that Ripple had emerged from the legal battle relatively unscathed.
But not so fast, says the SEC.
In a fresh legal filing, the SEC opposed a motion by Justin W. Keener, who sought to submit “decisive evidence” supporting Ripple. The SEC argued that the court no longer has jurisdiction, as the matter has moved to the Second Circuit Court of Appeals. More notably, the agency stated in its opposition that the case is still under appeal, directly contradicting Ripple’s settlement claims.
Also read: XRP Price Prediction 2025-2028: Standard Chartered Forecasts $12.50 Surge Despite Crypto Market Crash
Attorney Bill Morgan highlighted this inconsistency, pointing to the SEC’s filing as evidence that the legal process is not yet over. This has reignited confusion within the crypto community, leaving investors and legal watchers unsure of where things truly stand.
The clash of narratives raises questions about whether Ripple jumped the gun with its announcement or if the SEC is trying to retain leverage. Either way, the lack of clarity is unsettling for stakeholders looking for closure in a case that has already dragged on for more than three years.
As of now, the crypto world is left watching and waiting—hoping that the next chapter brings less legal ambiguity and more regulatory clarity.
